Iradimed Corp (NASDAQ:IRMD) saw a large drop in short interest in September. As of September 15th, there was short interest totalling 284,800 shares, a drop of 14.7% from the August 31st total of 334,000 shares. Approximately 4.6% of the company’s stock are sold short. Based on an average daily trading volume, of 49,900 shares, the short-interest ratio is currently 5.7 days.
A number of research analysts recently weighed in on IRMD shares. TheStreet lowered Iradimed from a “b” rating to a “c+” rating in a research report on Friday, July 31st. Roth Capital reduced their target price on Iradimed from $30.00 to $26.00 and set a “buy” rating for the company in a report on Monday, August 3rd. BidaskClub lowered Iradimed from a “sell” rating to a “strong sell” rating in a report on Wednesday. Finally, Zacks Investment Research lowered Iradimed from a “hold” rating to a “sell” rating in a report on Friday, August 14th. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $26.00.
In related news, Director Monty K. Allen sold 9,062 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $22.22, for a total transaction of $201,357.64. Following the completion of the transaction, the director now owns 12,221 shares of the company’s stock, valued at approximately $271,550.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 50.90% of the stock is owned by company insiders.
Shares of Iradimed stock traded up $0.09 during trading hours on Thursday, hitting $21.47. The company’s stock had a trading volume of 21,523 shares, compared to its average volume of 48,895. The business has a 50 day moving average price of $21.72 and a two-hundred day moving average price of $21.66. Iradimed has a 12-month low of $14.41 and a 12-month high of $28.43. The company has a market cap of $261.84 million, a PE ratio of 49.72 and a beta of 1.27.
Iradimed (NASDAQ:IRMD) last announced its quarterly earnings data on Thursday, July 30th. The medical equipment provider reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.12. The business had revenue of $6.80 million for the quarter, compared to the consensus estimate of $5.53 million. Iradimed had a return on equity of 9.57% and a net margin of 14.74%. As a group, analysts predict that Iradimed will post 0.03 EPS for the current year.
Iradimed Company Profile
IRADIMED CORPORATION develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible medical devices, and related accessories and services in the United States and internationally. It offers MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets; and MRI compatible patient vital signs monitoring system.
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